I got into Cryptocurrency and was wondering how the taxes would be addressed on profits and losses of trading cross currency.
- I have not converted my cryptocurrencies to any government backed fiat.
- I have sustained large gains and large losses with ended up allowing me to only see a 10% gain over my initial investment.
If I take the cryptocurrencies and convert them to USD, would I be subject to long/short term capital gains?
FYI: This is for a personal hobby, not a business.